31/07/2020 - Bajaj Finance Ltd had already broken the short term trend line in 30min & daily charts. Sell Bajaj Finance Ltd @3250 with a target of 3130 & 2800 on down side with a stop loss of 3350.
Hey, is it not likely that there could be a positive breakout from the descending triangle formation?
sureshk05
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@Priyanshu_Upadhyay, Possible till it break below 200EMA with strong candle in daily charts. 200EMA is providing support around 3150 levels.
But upside is capped, in daily charts there was a Bearish Engulfing pattern on 21/07 & resistance at 200SMA which caps the upward movement at 3450 levels.
Priyanshu_Upadhyay
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@sureshk05 Thanks for answering 😁 always learning something new 🙌